I wouldn't waste my time asking an open ended question like that on this forum, as you'll likely have tons of people offering up their own experiences/perceptions of their own local laws.  

People's perception - 2008 is what a lot of people consider to be a normal recession as that what they remember. 

In OH, it's largely buying on out-state perceptions of value, and hoping rent's to meet that valuation. 

A perception of a win-win is possible without sacrificing business objectives.What this looks like practically for us:Protect yourself- #1 (especially in California) make sure to insulate yourself, if things go south. 

A few months in the property is well taken care of(knock on wood), and now my perception is the tenant likes to work on cars so has a couple extra around. 

"The perception that housing is drastically undersupplied and that a strong demographic picture lies ahead is creating a false sense of security," according to a report by Zelman's firm entitled "Cradle to Grave.'

In addition, you have the tenant perception.

This is an excellent place to start - examining your assumptions, perceptions, biases and fear. 

I think you did not build enough trust.. perception and getting the other party to like, trust and respect you is more than anything.

I am aware that there can be a negative perception to lease option financing, but Krohn seems to refute those arguments.